The digitalization of the banking sector is in full swing: more and more people are mastering mobile and online banking. In this article, we find out which of these services is safer and tell you how to secure your data.
Ambiguous Statistics
According to estimates of the Analytical Center, 81% of the audience with plastic cards use Internet banking, and the number of users of mobile banking applications is 69%. The center says that the most demanded functions among mobile and internet-banking users are payments for cellular communications, transfer of money to other people and between accounts, as well as account and card transaction tracking. People started setting up auto-payments for utilities and applying for credit, debit, and virtual cards in mobile or online banking more often.
The age of online banking users is changing upward, with more and more mature people preferring innovative technology. For example, in 2017, the number of active users 50-60 years old increased by 4% in online banking, and over 60 years old increased by 6%. In mobile banking, last year there were 90% more 50-60-year-old customers, and over 60-year-olds – 99%.
Research
Specialists believe that the great popularity of online banking is due to the fact that virtually everyone has access to a computer, unlike advanced smartphones today.
In addition, the application on a smartphone has fewer functions than the desktop version.
In 2017 – gradually users of remote banking channels are choosing mobile banking. Thus, smartphones are replacing computers when accessing personal banking services. Whatever the statistics, there are pitfalls for online banking users that make it easy to lose money in an account. If you are not yet tied to any bank and are in search of the best of all, then be sure to register at bestbuy.accountonline. Only with the card you will be able to pay for any purchases and will be able to use dozens of services and you will open hundreds of opportunities because this bank is unique. How to activate bestbuy.accountonline.com? Visit the official site and see for yourself!
The Dangers of Online Banking
A common cause of losing money by clients of mobile banking is ridiculously simple: a person changes his or her subscriber number and forgets to inform the bank. The new owner of the number continues to receive notifications of the account status, and he can use the data received and perform operations. For example, to transfer money to other accounts using SMS commands. Another danger is the virus SMS-sending: a person clicks on the link in the message and the malicious program is automatically installed on the phone. In this way, criminals gain access to the mobile bank and use it to send commands to the bank. The same virus can be caught when installing dubious applications on the phone.
As for the online bank, there are no fewer dangers. Here operates a phishing scheme, when the criminals fraudulently derive from the bank customers’ data to log into a personal account. Sometimes the criminals offer the victim to get a new card and provide access to it via a personal account. People agree without taking into account that the fraudsters will have access to the rest of the cards in the online bank.
The number of attempts to hack into online banks grows every year. Criminals make almost a third of illegal withdrawals in the online segment. They create copies of online banking sites, and gullible customers enter information that goes to hackers. And, of course, picking up a virus through your computer is also possible.
What’s the Bottom Line?
Most experts from banking IT services, including foreign ones, tend to believe that mobile banking is still safer than Internet banking. There are several reasons for this. As a rule, the security level of modern mobile devices is much higher than that of laptops and desktop computers. Smartphones have built-in cryptographic equipment that protects data. It would take sophisticated hacking skills to access the information on a mobile device.
Of course, when logging into a personal account, the online bank uses two-factor identification forms, that is, it sends an SMS with the password to the phone. However, even this is no longer a problem for fraudsters – they have learned how to get this information out of users as well.
Internet Banking Is Reliable
Internet banking is safer in the sense that the computer is at home, in a safe place. And your smartphone or tablet is always with you, and if you leave your gadget unattended for a couple of minutes, your data will be stolen. But we still advise putting passwords on laptops and desktop computers, installing anti-virus software, and using secure virtual VPNs when working with online banking. A laptop can be encrypted just like a smartphone.
The “rooting” operation – when the user deliberately removes some restrictions set by the smartphone manufacturer and gets privileged control over the operating system – is very dangerous: “When you “root” your phone, you make the data – and therefore the mobile bank – vulnerable. And if you still have questions about this topic, be sure to go to the German forum. Only here you will find out as many details and news about online banking as possible. Hurry up and ask your questions and get answers not only from specialists but also from ordinary users!
The Other Side of The Issue
Mobile devices boast the strongest protection of personal information, and banks, developing this service, pay attention to improving security. There are a lot of areas that IT people are working on now, trying to make mobile banking more secure. This includes fingerprint and facial scanning of the phone owner, and voice recognition, all of which will help combat unauthorized access to your information. So both mobile and online banking have security holes, but protecting your data is possible.
How to Protect Yourself
IT experts recommend following basic security rules when using mobile banking. Download only licensed banking apps and update on time. Also do not forget about updating the antivirus and do not neglect additional verification of passwords. For those who prefer online banking, experts advise checking the address of the site where they enter their data carefully, letter by letter. Install an antivirus program, update it and the operating system regularly.
From general recommendations: don’t tell outsiders your personal data, logins, and passwords. If you lose your phone with a mobile bank, block not only the SIM card but also the bank card itself. Set complex passwords: the longer and more unusual they are, the harder it will be for special programs to find them. So, just follow these rules! Hope you enjoyed this article!